Ukraine Unpaid Debts

[StevenMO 0]

My fiance was approved for her K1 a few days ago and we are finalizing her plans for entry to the USA. She lost her job a few months ago and while I have been helping her out she told me today that she has a negative balance of 20,000UAH with her bank.  I told her I wanted to send her money to pay this debt off because I dont want any problems (1) when she leaves the country or (2) when she returns later and then tries or leave.   or 3) since she owns an apartment which she will be renting out then will put a lien on it.

 

While in the US it would ruin your credit and they could put a lien on your property thats about all they could do.  

 

How does the process work in Ukraine? Do I have a valid concern?

 

[HP+IC 292]

Well, as a home owner she may be subject to property tax. She's subject to income tax for her income from rent. Apart from her debt she has enough things to take care of. All in all until somebody (be it the bank or tax authority) effectively sues her and affirms her debt through court and puts her in border crossing ban, she will be able to come and go. But it is very recommended to pay off the debt and arrange someone with a power of attorney to take care of her property and tax filing in her absense. And yes, apart from putting you in a ban list at the border they can put a lien on your property both for debt and not paying taxes properly. By the way, she may rent out the property and request advance payment like 3-4 months and pay off the debt by herself. 

Edited December 2, 2018 by HP+IC

[Lenchick 133]

29 minutes ago, StevenMO said:

My fiance was approved for her K1 a few days ago and we are finalizing her plans for entry to the USA. She lost her job a few months ago and while I have been helping her out she told me today that she has a negative balance of 20,000UAH with her bank.  I told her I wanted to send her money to pay this debt off because I dont want any problems (1) when she leaves the country or (2) when she returns later and then tries or leave.   or 3) since she owns an apartment which she will be renting out then will put a lien on it.

 

While in the US it would ruin your credit and they could put a lien on your property thats about all they could do.  

 

How does the process work in Ukraine? Do I have a valid concern?

 

She should have a payment plan set up by her bank. Does she fullfil that? I mean she should deposit  every month a particular sum to cover that debt. If she does it then it’s okay. But $700 is not that much I guess. You could help her pay that off before she leaves if it’s bothering you. She can stretch that for years, even when she is in the states and works she can continue paying it off. I don’t think having a debt will prevent her from crossing the border if she continues paying it off. 

 

The tax property is pennies in Ukraine. 

[Boiler 45,522]

$700?

 

Presumably she intend repaying ot from the rent.

[HP+IC 292]

Don't forget the interest. It may come up to 40%, usually like 20-25% depending on the type of loan. UAH 20K is not a big deal to keep you worried and not difficult to pay off. And paying it from the US will be only possible if she has a debit card of Ukrainian bank where she could accumulate her rent proceeds and transfer money using her bank app online. IMO, not worth it

Edited December 2, 2018 by HP+IC

[HP+IC 292]

10 minutes ago, Lenchick said:

She should have a payment plan set up by her bank. Does she fullfil that? I mean she should deposit  every month a particular sum to cover that debt. If she does it then it’s okay. But $700 is not that much I guess. You could help her pay that off before she leaves if it’s bothering you. She can stretch that for years, even when she is in the states and works she can continue paying it off. I don’t think having a debt will prevent her from crossing the border if she continues paying it off. 

 

The tax property is pennies in Ukraine. 

If it is a loan and not a credit card debt. For credit card debt there is no plan, just a minimum required monthly installment

[StevenMO 0]

Well this is an easy one. Will be sending her the money to pay this debt off prior to her leaving.   She just doesn't want to take my money and while I appreciate her sincerity $700 is not worth any problems down the road.

[HP+IC 292]

If she doesn't want it, leave it to her to deal with, but explain she must have it done. She may be quite uncomfortable about getting money from you. Getting money from your man = being paid for your relationship may be considered inappropriate, maybe until you get married and join your assets (if you want). Just make sure she's arranged everything if she prefers not to sell her property before leaving. 

[gregcrs2 1,778]

1 hour ago, StevenMO said:

My fiance was approved for her K1 a few days ago and we are finalizing her plans for entry to the USA. She lost her job a few months ago and while I have been helping her out she told me today that she has a negative balance of 20,000UAH with her bank.  I told her I wanted to send her money to pay this debt off because I dont want any problems (1) when she leaves the country or (2) when she returns later and then tries or leave.   or 3) since she owns an apartment which she will be renting out then will put a lien on it.

 

While in the US it would ruin your credit and they could put a lien on your property thats about all they could do.  

 

How does the process work in Ukraine? Do I have a valid concern?

 

What is the reason she has that bank debt?  Something does not sound right.  

[HP+IC 292]

11 minutes ago, gregcrs2 said:

What is the reason she has that bank debt?  Something does not sound right.  

It means nothing. She's been laid off a few months ago and could live off her credit card for a few months expecting to rent out her property before leaving or get a loan to buy a new TV before being laid off. Unfortunately, Ukrainians of all sexes are usually not very good at managing their finance. She could have used her credit card to get dental implants while still in Ukraine, compare USD 500 to whatever it costs in the US. How she accumulated that debt is irrelevant

Edited December 2, 2018 by HP+IC

[StevenMO 0]

57 minutes ago, gregcrs2 said:

What is the reason she has that bank debt?  Something does not sound right.  

Just everyday living expenses - as was mentioned earlier she is not very good at managing finances.   ITs only $700 and its not a big deal.  I just dont want any problems for her when we return to Ukraine next year.

 

[Lenchick 133]

4 hours ago, HP+IC said:

If it is a loan and not a credit card debt. For credit card debt there is no plan, just a minimum required monthly installment

Installment is the same plan practically.  It tells you how much you are supposed to pay every month inside your online banking account. I had a credit card and the bank would send me a notification on my cell phone how much I was supposed to deposit before the end of every month, and if I didn't the penalty would apply which meant I would pay more if I deposit later.